TOP 34 Comments
- SpaceX uevh5Everyone can shoot themselves in the foot, but only Elon can make it on such scale. The company is fucked up.
- Business Insider got the actual data. Apparently it's all over the place.
- My theory: a few bad things happened in the fall of 2018
1) loss of that USAF $2.3B govt contract (some speculated due to drug-related display on that radio show?)
2) the funding rounds last fall did not return that much money
That led to two things IMHO:
1) accelerated development of Starhopper/Starship (first flight to be completed before the next funding round in the spring). I guess the hope is to impress potential investors (recreate the vibe after the FH maiden flight a year ago)
2) more firings
Just speculation though ...
- Tech companies continue to undercut the competition by subsidizing losses with investor money. This will end badly for many. See WeWork as an example of a massive bankruptcy in the making.
- They have massively undercut lessors to the point where the their model now depends on being the low cost provider. All because of low rates and prospering investors throwing money at WeWork in the hopes it’s the next amazon. Too bad because their model was novel. Greedy investors have saddled it with more debt than it will be able to handleJan 112
- The company's main source of income - satellites launches is drying off. Whoever needed something in space already did it or will have it in 2019. The Starlink internet business that was supposed to save as all has been dragging it's feet, and after the reorg in Redmond started literally from scratch. Elon changed his mind about it 100 times and if we launch the current iteration it will be a laughing stock.
Manned flights for NASA keep being delayed, the last straw is a thorough review after his weed smoking and erratic behavior.
Investors are reluctant to give their money to a visibly unstable person, that doesn't know how to do business.
And tons of of money and resources are being dumped into the boring company and the Starship - projects that nobody wants or needs.
- Of course. No one in their right mind would throw money at him anymore. I am saying all that but I hope I'll be proven wrong. Elon is an idiot whose megalomaniac complex went out of proportion, but SpaceX and Tesla can give a lot to the world. And it would be a shame if he manage to ruin both of them.
- Thanks for your insights, uevh5. I think SpaceX is still positioned to devastate their competitors because of reuse. If they run out of satellites to launch, well that's a new and interesting problem. They need to get their SATs ready for internet if the market is pausing at the transition.
- Trying to lean a company already so lean for the scope of work. We already constantly struggle to meet customer commitments. https://bgr.com/2019/01/11/crew-dragon-delay-spacex-nasa/
- Cisco InfensusEng or manufacturing? Manuf gets laid off all the time, sometimes they get rehired when things ramp up again
- Someone just posted on Glassdoor said that they cut non-essential people (software, mgmt, etc. basically anyone not designing/building actual hardware) to focus on Starship and Starlink.
Someone else on Reddit mentioned that laid off employees got to keep their stock.Jan 131